WASHINGTON, Jan. 10, 2017 /PRNewswire-USNewswire/ -- ASAE's Endorsed Directors' and Officers' (D&O) Insurance Program is delivering a broader, enhanced and competitively-priced D&O insurance coverage solution to the association community. Developed by Aon Affinity Nonprofits (Aon), in partnership with A+ rated Arch Insurance Company (Arch), ASAE-Endorsed D&O Insurance is a flexible multi-coverage product tailored to meet the evolving risk management needs of trade and professional associations, as well as other nonprofit organizations, across the nation.
"ASAE has been working with Aon for over 20 years to provide innovative and customized insurance solutions for associations and nonprofits at affordable premium rates. The enhanced D&O insurance solution we are rolling out is a prime example of that partnership," said President and CEO John H. Graham, IV, FASAE, CAE. "ASAE knows that D&O insurance is a risk management essential for associations and nonprofits. That's why our endorsed D&O offering leverages the strength of A+ rated carrier Arch Insurance to deliver more coverage at an even better value and superior customer and claims service."
With a comprehensive suite of increased coverage limits, the enhanced ASAE-Endorsed D&O Insurance solution provides associations and other nonprofit organizations with one of the most robust D&O insurance programs available in the market today.
"Aon is excited to partner with ASAE to deliver associations and their brokers alike, access to cutting-edge, competitive D&O Insurance with a first-class customer service experience," said Amy Doherty, Senior Vice President, Aon. "In a saturated marketplace, we believe our enhanced product is an innovative solution providing essential insurance protection at a cost that nonprofits can afford."
Highlights of the program include:
- Up to $500,000 in wage and hour (FLSA) coverage
- Up to $100,000 in expense costs for Cyber breaches
- $250,000 workplace violence coverage
- Up to $250,000 in PR costs associated with sexual abuse allegations and fundraising fraud
- Over a dozen first party coverage extensions
For more information on the ASAE-Endorsed D&O Insurance, please contact Eric Johnson at eric.johnson@affinitynonprofits.com.
About ASAE: The Center for Association Leadership
ASAE is a membership organization of more than 21,000 association executives and industry partners representing 9,300 organizations. Its members manage leading trade associations, individual membership societies and voluntary organizations across the United States and in nearly 50 countries around the world. With support of the ASAE Foundation, a separate nonprofit entity, ASAE is the premier source of learning, knowledge and future-oriented research for the association and nonprofit profession, and provides resources, education, ideas and advocacy to enhance the power and performance of the association and nonprofit community. For more information about ASAE, visit asaecenter.org.
About ASAE Business Services, Inc.
Since 1975, ASAE Business Services, Inc. (ABSI) has been the trusted source for essential business services for associations and nonprofits. The wholly-owned subsidiary of ASAE, ABSI supports ASAE's efforts to promote excellence in association management. For more information about ABSI, please visit absisolutions.com.
About Affinity Nonprofits
Affinity Nonprofits is the program name for the brokerage and program administration operations of Affinity Insurance Services, Inc. and has provided comprehensive solutions to nonprofit organizations for over 35 years. Affinity Nonprofits is a trusted advisor to 65,000 nonprofits and more than 5,000 insurance agents and brokers (TX 13695); (AR 100106022); in CA & MN, AIS Affinity Insurance Agency, Inc. (CA 0795465); in OK, AIS Affinity Insurance Services, Inc.; in CA, Aon Affinity Insurance Services, Inc. (CA 0G94493), Aon Direct Insurance Administrators and Berkely Insurance Agency and in NY, AIS Affinity Insurance Agency.
About Aon Affinity
Aon Affinity is a trade name for Affinity Insurance Services, Inc. Aon Affinity combines the specialized knowledge of affinity program management with the extensive resources of a global company to help clients achieve their goals. With an innovative approach to program strategy, from the design of products and services to the delivery of the marketing message, Affinity offers full-service capabilities; technical expertise and industry knowledge to deliver value to clients. Visit http://www.aon.com/affinity for more information.
About Aon
Aon plc (NYSE: AON) is a leading global provider of risk management, insurance brokerage and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 72,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative risk and people solutions. For further information on our capabilities and to learn how we empower results for clients, please visit: http://aon.mediaroom.com.
About Arch
Insurance coverage is underwritten by one or more member companies of Arch Insurance Group in North America, which consists of (1) Arch Insurance Company (a Missouri corporation, NAIC # 11150) with admitted assets of $3.56 billion, total liabilities of $2.73 billion and surplus to policyholders of $825.14 million, (2) Arch Specialty Insurance Company (a Missouri corporation, NAIC #21199) with admitted assets of $497.16 million, total liabilities of $190.04 million and surplus to policyholders of $307.13 million, (3) Arch Excess & Surplus Insurance Company (a Missouri corporation, NAIC # 10946) with admitted assets of $61.96 million, total liabilities of $279,154 and surplus to policyholders of $61.68 million and (4) Arch Indemnity Insurance Company (a Missouri corporation, NAIC# 30830) with admitted assets of $53.66 million, total liabilities of $29.27 million and surplus to policyholders of $24.39 million. All figures are as shown in each entity's respective Quarterly Statement for the quarter ended September 30, 2015. Executive offices are located at One Liberty Plaza, New York, NY 10006. Not all insurance coverages or products are available in all jurisdictions. Coverage is subject to actual policy language. This information is intended for use by licensed insurance producers.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/asae-launches-enhanced-directors--officers-liability-insurance-for-associations-300388053.html
SOURCE American Society of Association Executives
